• February 2019
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What is a way to raise seed funding for a startup?

You’ve been given a ton of helpful advice, but I’d like to expand a bit about crowdfunding. 

Sometime, people assume that crowdfunding is an easier option because you create a campaign and then watch the money roll in. Yeah, that’s not exactly how it works.

Here are a few things you should keep in mind about crowdfunding:

  • It’s a lot harder than you think. It’s a serious time and financial investment. Nobody is going to give away their money to a lost cause. So make sure that you put some serious effort behind your campaign plan.
  • Have a plan. Don’t lazily approach crowdfunding. Develop a plan. Execute the plan.
  • Don’t leave out legal components. Make sure that you understand the terms and when or if you have to re-pay any of the funds that you get. Make everything airtight so you aren’t in for a rude awakening later.

Is crowdfunding a good way to raise seed funding? Absolutely. But, you have to remember that it’s still important work and you have to approach it that way.

If you’d like some help, LawTrades would be happy to assist you. We’ve already helped over 1000 startups in various stages of business. We are passionate about making legal services easier and more affordable. Check out our website and get in touch if you’d like a consultation.

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